Lenovo Group (OTCMKTS:LNVGY) Shares Gap Down – Here’s What Happened

Lenovo Group Ltd. (OTCMKTS:LNVGY – Get Free Report)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $63.73, but opened at $58.18. Lenovo Group shares last traded at $58.5550, with a volume of 40,174 shares traded.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Lenovo Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy”.

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Lenovo Group Stock Performance

The stock has a market capitalization of $36.22 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. The company has a current ratio of 0.96, a quick ratio of 0.71 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average is $36.26 and its two-hundred day moving average is $28.29.

Lenovo Group (OTCMKTS:LNVGY – Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The technology company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.28. Lenovo Group had a net margin of 2.30% and a return on equity of 28.52%. The company had revenue of $21.59 billion during the quarter, compared to the consensus estimate of $19.39 billion. Analysts expect that Lenovo Group Ltd. will post 2.75 earnings per share for the current fiscal year.

About Lenovo Group

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Lenovo Group is a multinational technology company known primarily for the design, manufacture and sale of personal computers, servers, storage and smart devices. Its product portfolio spans consumer and commercial PCs (notable brands include ThinkPad, IdeaPad, Yoga and Legion), workstations, enterprise-class ThinkSystem servers and storage, as well as tablets, smartphones (notably through its Motorola Mobility acquisition), smart home devices and related software. Lenovo also provides IT services and solutions, including systems integration, managed services and lifecycle support for enterprise customers.

The company traces its origins to 1984 when it was founded in Beijing as Legend by Liu Chuanzhi; it later adopted the Lenovo name and expanded through a series of strategic acquisitions.

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